What is a Short Sale | Gainesville Short Sales

What is a Short Sale  | Gainesville Short Sales

A short sale is when your bank or financial lender agrees to take less than on your home than what is worth.  A short sale is an alternative to foreclosure.

What is a Gainesville short sale? This is becoming a common question among Gainesville homeowners that are facing foreclosure. We understand that foreclosure is a very difficult time in a homeowner’s life.  If you are facing a foreclosure, it is important to know that you are not alone. There are many homeowners out there who are going through a foreclosure and looking for another option.

If you have been turned down for a loan modification, and have not been able to work out something out with your bank or lender, don’t give up…a short sale may be the best option for you.  For example: let’s say that you owe $250,000.00 on your home, if you qualify for a short sale, the bank may approve an offer on the home for $120,000.00. This means that the bank will forgive the $130,000.00.

What would a Gainesville short sale mean for you?
Well this would mean that you would be able to sell your home opposed to walking away.  This would reduce a lot of unnecessary stress down the road. Please note that you would make nothing out of the sale, and beware of any myth that you might. However this can reduce the damage to your credit, and provide a more positive outlook on your financial future.

What would a Gainesville short sale mean for the bank? Banks and financial lenders, are in the business of lending and making money.  They are not in the business of buying and selling houses. The bottom line for the bank is that with a short sale the bank will at least recoup their costs, not rack up any additional fees, especially legal fees which could run them anywhere from $15,000.00 to over $30,000.00.

What is a Gainesville short sale? Now that you may have a general idea of what a short sale is the next question would be to ask yourself if this would be the right decision for you. If this is the right decision for you then the next question to ask would be do I qualify for a Gainesville short sale? Whenever a homeowner calls our office to ask us for information on qualifying for a short sale on their home we make sure that we provide them with the most current information out there, since short sale information is always changing.

We hope that you understand that there are never any guarantees that a lender will approve a short sale.  The first step in determining whether or not you are eligible for a Gainesville short sale, and what your chances are, is to complete an intake interview with one of our agents.

Our agents will do a qualification interview over the phone. This evaluation will give everyone a better idea of what the chances are for your short sale to go through.  Not all short sale circumstances are the same. The outcome of a homeowner qualifying for a short sale will better be determined after an agent reviews all of the details.

What is a Gainesville Short Sale? Now that we have given you a general idea of what a short sale is and a little about the process that it entails we want to stress how important it is to find an agent that is experienced and knowledgeable about the short sale process. Our agents have the experience necessary and knowledge to maneuver through this process. To speak with an agent and for more information contact our office.


Other Articles to Read:

What is a Short Sale?

Short Sale Process – What to Expect

Short Sale Top 10 Questions

Do I Have to Pay for the Real Estate Agents Commission?

Other Articles to Read:

What is a Short Sale?

Short Sale Process – What to Expect

Short Sale Top 10 Questions

Do I Have to Pay for the Real Estate Agents Commission?

Call Stephanie Anson today at 352-535-0620 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.

  

Click Here to Leave a Comment Below 0 comments